Payments

Axletree partners with Roxe for cross-border blockchain payments

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December 20, 2021

Axletree Solutions, a bank connectivity solutions provider, has partnered with Roxe, an open-global payment network to deliver cross-border payments with blockchain technology. Roxe will offer its Instant Settlement Network for Axletree's connectivity and payments marketplace to offer instant settlements with better traceability and fraud protection than other cross-border solutions, according to a press release.

With this partnership, Axeltree's clients will have access to a payment note on the Roxe blockchain network, which can settle a payment in seconds. Clients do not need to use cryptocurrency to access the blockchain network.

"Banks are under pressure to deliver the experience of domestic payments across cross-border transactions," Andrew O'Garro, SVP of strategic solutions, Axletree, said in the release. "Blockchain has the power to deliver that experience and also reduce cost across the payments value chain."